Mortgage Rates forecast to rise 1% by end of 2013
In my November 27 article Refinancing – don’t make just the minimum payment I wrote: “Don’t assume that rates will either go lower still or that they will necessarily stay this low for as long as the Federal Reserve is currently saying. If the economy does strengthen from here, interest rates my move up sooner than expected.”
The Mortgage Bankers Association has just issued a forecast that mortgage rates will increase gradually as the economy improves and finish around 4.4 percent in the fourth quarter of 2013.
More reason to consider buying NOW!